Generali Real Estate acquires large-scale portfolio in France

Generali Real Estate S.p.A. has completed, on behalf of two Generali Group entities, the acquisition of a portfolio of 53 assets operated by Monoprix, a French leading high street retailer, for approximately €600 million ($685 million).

This operation allows the company to further strengthen and diversify its presence in France by adding a portfolio that offers long-term secured revenues and a well-balanced geographical diversification in prime locations, with around 47 percent of the value from assets located in Paris, 27 percent in Paris Region, and the remaining 26 percent in other cities across France.

Furthermore, it ensures a long-term partnership with a robust brand with a market leadership in Paris and the Ile de France region.

Following this acquisition, Generali Real Estate’s portfolio under management in France is approximately €9.5 billion ($10.9 billion), out of a total of nearly €30 billion ($34 billion) at a global level as of year-end 2018.